PYMNTS

AUGUST 14, 2019

The latest Faster Payments Tracker analyzes these new developments and explores how faster payments are changing how employees get paid. It can be difficult for them to make necessary purchases like insurance, payroll and refueling supplies while they wait for invoices to be paid. Trucking Speeds Up.

Faster Payments 64

Faster Payments Real Time Payments Payments Point-of-Sale (POS) 64

PYMNTS

AUGUST 6, 2020

From the rise of the gig economy and lower barriers to becoming an independent contractor or a solo-preneur, to the accelerated development of real-time payments capabilities all had major implications for payroll. Payroll Impacts. In a pre-pandemic world, the workforce was in dramatic flux. Playing The Support Role.

Payroll 60

Payroll Real Time Payments Automation On-Demand 60

PYMNTS

SEPTEMBER 15, 2020

Just like accounts payable (AP) departments, payroll clerks have been faced with major disruption as a result of the pandemic, particularly when payroll systems remain paper-based. But shifting away from paper paychecks toward digital payroll solutions hasn't been the only influence of market disruption. Beyond the Gig Economy.

Economy 59

Economy Payroll On-Demand Real Time Payments 59

PYMNTS

MARCH 18, 2019

Take two announcements from just last week, related to the evolution of faster payments in the U.S. First, there was the Fed’s decision to slow faster payments progress via Same Day ACH because it wasn’t ready to approve another processing window during the day. The Fed’s Hat and the Faster Payments Ring.

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

Payments Source

NOVEMBER 6, 2018

Companies that rely on contract work also depend on diversifying revenue streams, a cycle that will repeatedly place fresh stress on an already complicated payroll system.

Faster Payments 81

Faster Payments Payroll Payments Real Time Payments 81

PYMNTS

APRIL 24, 2018

Even as payments accelerate, as FinTech advances and as cash flow management solutions become more sophisticated, employers continue to adhere to the every-other-week paycheck. Today, this payroll schedule means an estimated 70 percent of employees in the U.S. Barha said he is “absolutely” watching the real-time payments space.

Payroll 43

Payroll Consumer Financial Protection Bureau (CFPB) Faster Payments Real Time Payments 43

PYMNTS

JUNE 26, 2020

population, which undermined central goals of the funding: to provide immediate financial relief to businesses and consumers and to stimulate a flatlining economy. Some firms already had digital tools and platforms in place to streamline their payroll operations, but many others have had to scramble to adapt to these new realities.

Payroll 52

Payroll Debit Card Direct Deposit Online and Mobile Banking 52

PYMNTS

OCTOBER 30, 2018

Payroll is not a one-size-fits-all function of the enterprise. As payroll technology evolves, companies have more options when it comes to improving this financial function. ” In today’s market, gig work is a booming space that’s challenging the status quo of payroll. As much as one third of the U.S.

Payroll 53

Payroll Product Direct Deposit Checks 53

PYMNTS

AUGUST 24, 2016

From Same Day ACH to paycard controversies , a few recent news stories have placed payroll in center stage. New research from payments technology firm Hyperwallet is placing data behind the need for employers to come through on payday. ” The demand for faster paychecks is evident, especially when considering employee cash flow.

Faster Payments 42

Faster Payments Same Day ACH Payroll On-Demand 42

PYMNTS

DECEMBER 13, 2018

According to the latest Gig Economy Index , 33.8 While the gig economy attracts strong participation, many of the space’s workers and employers still rely on old-fashioned payment methods. While the gig economy attracts strong participation, many of the space’s workers and employers still rely on old-fashioned payment methods.

Economy 47

Economy Payments Payroll Faster Payments 47

Payments Source

MAY 31, 2018

Intuit has added new features to QuickBooks Payroll so employers can make payroll at the last minute, delivering same-day paychecks to workers with the option to make direct deposits to contract employees.

Payroll 65

Payroll Direct Deposit Faster Payments ACH 65

Finovate

SEPTEMBER 27, 2024

First up, we head over to Toronto, Ontario, where embedded payroll software company Nmbr has secured $5.6 “We’re incredibly grateful for our investors’ support and their confidence in our mission to empower businesses across the country with embedded payroll solutions,” Nmbr Co-Founder and CEO Simon Bourgeois said.

Embedded Finance 64

Embedded Finance Finance Payroll Online and Mobile Banking 64

PYMNTS

OCTOBER 18, 2019

You might have missed some vital payments and commerce news this busy week, but the PYMNTS Weekender has you covered. We have deep dives on the gig economy, what AI really means to payment execs, and the Fortnite black hole, among many other subjects, including fresh and original research. Happy weekend!

Economy 40

Economy AI Risk Instant Payments 40

PYMNTS

JUNE 24, 2020

The United States economy is steadily reemerging from the COVID-19 pandemic-induced shutdown. Digital alternatives to conventional payroll processes are emerging that allow workers to access earned wages before payday, without the delays and complications associated with paper checks. Around The Changing Payroll Landscape.

Payroll 94

Payroll Checks IRS Shutdown 94

PYMNTS

MAY 14, 2018

Can a shift in demographics lead to ripple effects – and maybe even a sea change – in the way gig economy workers get paid? The PYMNTS Gig Economy Index has estimated that gig workers account for 3.7 The company has billed the service as a way for employers to tailor payments to the gig economy.

Economy 50

Economy Payments Payroll Checks 50

PYMNTS

NOVEMBER 3, 2020

Financial institutions (FIs) and other financial services providers are looking to help meet the need for speed by leveraging various faster payment rails that support an array of payment methods,” according to PYMNTS’ latest Real-Time Payments Report done in collaboration with The Clearing House.

Real Time Payments 109

Real Time Payments RTP Same Day ACH Payer 109

PYMNTS

JULY 23, 2020

The pandemic has exposed extreme vulnerabilities in today’s economy where six in 10 Americans live paycheck to paycheck. In recent years, the gig economy has underscored the importance of disrupting traditional payroll norms. They still fund their payroll exactly the same way they did before.”.

Payroll 85

Payroll On-Demand Economy Visa 85

PYMNTS

NOVEMBER 7, 2017

Almost a decade in, no longer fueled by desperation, the gig economy has taken a new shape and form. Today, the $700 billion-plus economy is powered not just by people who have lost their jobs or students working summer jobs, but increasingly by those who prefer the gig lifestyle. Benefits in the gig economy. to 5:00 p.m.

Economy 41

Economy ACH Network Acquirers Direct Deposit 41

PYMNTS

JUNE 24, 2019

Everyone seems to want faster payments — from gig workers to B2B suppliers to parents splitting expenses — but with not all major financial institutions on board, real-time payments stand at lower chance for mass adoption. The demand for faster payments is strong in the U.S., transaction accounts. In the U.K.

Real Time Payments 65

Real Time Payments RTP Faster Payments Payments 65

PYMNTS

AUGUST 3, 2020

On-Demand Pay And The Gig Economy . On-demand payment options are most prevalent among gig economy platforms known for offering on-demand services, including ridesharing and meal and grocery delivery. A growing number of workers have come to expect payment options that keep pace with their needs and lifestyles.

On-Demand 84

On-Demand Payments Payroll Economy 84

PYMNTS

MAY 14, 2020

But as PYMNTS and Mastercard demonstrated in a survey last fall, the progress of speeding up pay for the gig economy, in particular, has been quick, consistent and highly impactful. million gig workers – or roughly one-third of the 96 million people in the gig economy – said they would be interested in such an option if it were available.

Payroll 64

Payroll Payment APIs and Integration Visa On-Demand 64

PYMNTS

APRIL 10, 2019

The Index also discovered that the gig economy is among one of the first areas to disrupt the normal pay cycle. Faster payments are starting to become a mainstream concept for gig workers, with 53.5 Access to these types of payments isn’t limited to just the gig economy, though. .

On-Demand 60

On-Demand Direct Deposit Payroll Instant Payments 60

PYMNTS

JULY 17, 2019

The conversation comes as pressure continues to build for not only faster payments of wages, tips and salaries, but disturbing those payments digitally, and in a method that appeals to a specific worker. “A But Uber is a product of the digital economy, and a company for which cash was never a factor.

Payroll 68

Payroll Economy Faster Payments Governance 68

Payments Source

FEBRUARY 27, 2020

Immediate payments through an existing payments platform means firms can pay quickly, satisfying the expectations of gig workers who are increasingly important to the company’s functions.

Economy 75

Economy Payments Small Business Faster Payments 75

PYMNTS

AUGUST 30, 2019

In a statement, Fiserv President of Electronic Payments Tom Allanson said the influx of gig workers has introduced challenges in how professionals access their earned wages. “With the rise of the gig economy and new ways of working, people increasingly expect to be able to access their pay right away,” he said. ”

Credit Union 40

Credit Union Near Real-Time Push-to-Card Payroll 40

PYMNTS

SEPTEMBER 2, 2019

Readers of this space no doubt know that in payments, the devil is in the details — in the numbers that pop up as dots to be connected, pointing toward tomorrow’s trends today. We’ve got em, of course, touching on everything from subscriptions to faster payments to gig economies — and below is a roundup of some of the more notable ones.

Cross-Border 49

Cross-Border Cross-Border Payments Faster Payments Online and Mobile Banking 49

PYMNTS

NOVEMBER 18, 2020

economy is proving to be a tailwind for faster payments and processes. Real-time payments rails and functionality have enabled corporates to pay workers on time and get PPP loans quickly and on a large scale. That said, the U.S. The Three Is .

Real Time Payments 98

Real Time Payments ISO 20022 Reconciliation Payments 98

PYMNTS

OCTOBER 30, 2020

Bank On Helping Businesses Pick Faster Payment Options. Businesses are working to speed up their payroll and business-to-business (B2B) transactions , but there is not one solution that fits the needs of all companies. Payment Firms’ Stock Rout Hints At Consumer Spend Worries. In the U.S.,

B2B 64

B2B Technology Payments On-Demand 64

PYMNTS

AUGUST 30, 2020

Reports collected from various sources have mail arriving much later after days of delays, including for such things as medications and paper checks for payroll. Paper check payments have long been a hold-out in B2B payrolls, even as much of the world goes digital.

B2B 61

B2B Payroll Push-to-Card Payments 61

PYMNTS

OCTOBER 10, 2018

80 percent: Share of companies willing to switch banks to access faster and instant payment capabilities. 61 percent: Share of firms that report real-time payments would improve payroll operations. economy in 2017. 200 million: The number of Indian consumers who have smartphones.

Risk 61

Risk Underwriting Real Time Payments Instant Payments 61

PYMNTS

OCTOBER 19, 2020

Powered by Money Network , the SHRM Payment Solution will especially aim to help millions of underbanked or unbanked Americans who need a digital method of accessing pay and a quicker way to access payroll. But in the ensuing years as the economy improved, the number fell 2.8 In 2011, the number of unbanked Americans rose to 8.6

FDIC 56

FDIC Debit Card Payroll Payment Solutions 56

PYMNTS

JULY 3, 2019

While B2B payments innovation often takes a page or two out of the business-to-customer (B2C) payments world, the rise of the gig economy and freelance professionals have challenged the payments space to develop solutions that can appear to be a hybrid of corporate and consumer solutions.

B2C 51

B2C B2B Innovation Real Time Payments 51

PYMNTS

JANUARY 21, 2020

The payroll has not seen much disruption since the introduction of direct deposit to accelerate workers’ access to earned wages. But a new generation of workers is now driving monumental changes in the way businesses employ and pay talent, with their participation in the gig economy a key driver of those shifts.

Payroll 68

Payroll Economy On-Demand Direct Deposit 68

PYMNTS

JUNE 25, 2020

Few sectors of the economy have been harder hit during the pandemic than the hospitality industry. Several key factors drive employee interest in faster payment options. Allowing employees to control when they are paid is just one innovation transforming longstanding payroll processes. The Challenges of Making Ends Meet.

Checks 57

Checks Payments Payroll Faster Payments 57

PYMNTS

NOVEMBER 9, 2018

The new offering, according to ADP, gives its customers the option to offer daily payments to their workers — a daily payments solution that adheres to all wage deductions and tax withholding laws, and doesn’t require current payroll processes, including the timing of payroll funds, to change in any material way. “We

Instant Payments 71

Instant Payments Push-to-Card Payroll Consumer 71

PYMNTS

FEBRUARY 13, 2018

ANZ Bank, meanwhile, is waiting to roll out its real-time payments capabilities as it continues “rigorous testing” of the tool. A spokesperson for the bank told the publication it would be making an announcement in the coming weeks about its faster payments offering.

Real Time Payments 40

Real Time Payments Governance Government Faster Payments 40

PYMNTS

AUGUST 4, 2020

. “Cash flow is critical for small businesses as they respond to changing circumstances — [it] could mean investing in equipment to take on a new type of work, or plugging a receivables gap to meet payroll,” Jobber CEO and Co-Founder Sam Pillar said in a statement. “We’re employment.

Finance 63

Finance Small Business Non-Bank Payroll 63